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tv   Countdown to the Closing Bell  FOX Business  April 16, 2013 3:00pm-4:01pm EDT

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will it thrill investors? we have the ceo on opening day. "countdown to the closing bell" starts right now. ♪ good afternoon, everybody. i'm liz claman, the last hour of trading, and markets showing resilience in the face of trauma and tragedy, just 24 hours after the attack, look at the markets on the screen, they are charging back. these are stocks, 19, let me repeat, 19 stocks in the s&p with 52-week highs today, many of them all-time highs like kimberly clark, clorox hershey's, mills, they are up now. coca-cola reporting better than expected earnings before the bell, and now that stock is jumping more than 5%. flip it over to another
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component, johnson & johnson also at a 52 #-week high. that name is jumping a dollar-44 right now. you know if jcpenney's higher, you know it's a force situation here. look at jcpenney, jumping more than 5 #%, 6%, depending on what time of day you look at here after we learned that jcpenney is exploring ways to raise cash, trying to be creative here as they come up against a wall when it comes to cash, but they are active about it, shareholders like that right now. more op that in a moment, but, first, goldman sachs crushing it today reporting first quarter earnings. why is the stock down? the profits rose 5% while revenue showed an increase of 1%, but revenue from certain areas like fixed income, currency, commodity trading, down from 7%. we have analysts that are questioning the effective pending bank regulation on goldman so the stock pulls back by two and a quarter percent.
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keep it clear. they beat estimates. timely, yesterday's shocking loser a winner today. gold is rising right now, $7. as you saw early yerl today, it was jumping significantly, up more than $10. it rebounded after yesterday's fall of more than a hundred dollars. it was the biggest dollar fall in history for gold yesterday, but trying to retrench showing a gain, just retrenching, bringing back 7 bucks of the loss. brent crude fell lowe $100 a barrel. a lot of things moving right now. the floor show, traders at the new york stock exchange, the imex, annie coal standing by on the floor picking traders' brains. first, our own brain picking here. i want to talk about the comeback. we did not erase the 265-point loss yef. we have come back pretty much
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swinging. what do you think that is? the economic data slowing down, we're on a negative trajectory relating to expectations in the ons why we hhve goodhis earnings numbers relative to the estimates from the consumer staples companies. there's cracks appearing from the veneer of the companies here in the u.s.. the other thing we're concerned about is the intermarket trends, the bond market, where it's positioned now, and what we is not in the right step relating to where they think the economy is in relation to the equity markets, so we're a little cautious here. we think if we are above the 1561 to close is above, and interimmediate bull line, we'll be all right. liz: yesterday, we saw volatility in the wake of the marathon bombings jump 43%. that was a little destabilize due to a drop in gold, a precipitous drop yesterday, but, today, it is pulling back by 2 #%. there on the floor of the cme,
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what are traders talking about as it relates to what happened yesterday versus today in >> yesterday was unusual. before we came in, as you stated, it started with china, and the market was down for fears of growth in china. the boston bombing increased it. as we go on, hear more about what's going on, it's not looking like it's a coordinated attack, nothing to spread to the rest of the country. that's begin us time to di jeers everything and look at what we have to, and that's economic data that's going to drive what the market is ultimately. the other things have effects, no doubt, and they vie ma more in the future. liz: indeed. speaking of futures. futurings in brent crude, ed yacht, to cocome below for 100 a barrel for bread, that's what trades overseas which is already about at dplr 88 a barrel here. tell me why that is. what's happening?
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is brent catching up to the loss seen in crude lately? >> tough call. we always talk about here, how crude is a news driven market; right? yesterday, we had some news, ten as moving, but to say, you know, below a hundred dollars because of the boston thing, i think, is not -- you know, i have trouble making that comparison. brent is european crude, not what we get out of the ground here, it is a bench market, and i think, you know, energy prices are softening up now, and i think that we'll see -- i think you look for that to continue. liz: thank you. no, i want you -- you are on the floor, you know. for us to sit there and speculate, oh, it was something that happened here in boston, look, that's what we need to hear. you're right. we've seen that spread between west texas and brement about $10-$11. it is the same way today, and brent below $1 # 00 a barrel, certainly, significant. yes mep, thank you. american airlines has a
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significant development here. as we broke in at 2 p.m. eastern to tell you departures were ground ped before 2 p.m., but to start up letting flights move at two has not happened. checking in with nicole at the new york stock exchange, what's going on? >> that's right. we're seeing that is still the case, that american's main line departures have been halted until 5 p.m. eastern daylight time. doesn't seem to clang any time soon. that's on the healings of american airlines and always their merger and on a day where you have all the airline stocks with up arrows. look at the airlines, amr does not trade because they're in the middle of the merger, but jet blue up 3%, delta up 5.5%, and uc up 5.5%. if you are waiting to get on the plane for a flight, you are frustrated at the moment with this news. back to you.
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liz: what's fascinating is u.s. airways, keep it up, everyone, airways lcc up 5% as nicole pointed out, the company that's merging with american airlines so to see that has note rattled that name is showing what we have to say is pretty strong resilience. the fox business market check, and we mentioned jcpenney earlier, top of the show. is it turn around time for the stocks? the company has been digging, nay, scratching away, trying to find ideas how to bring this the cash. the stores inside stores has not worked. they are trying to scare up money, shares up today after reports that the struggling retailer is, indeed, exploring ways to borrow against its real estate holdings to raise cash. everybody who looks at jcpenney who is in the know says they own the land underneat that store. if they are looking for ways to
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borrow against that land, that could be a short term home run. one possibility includes spinning off real estate into a new unit that could issue debt. another involves exploring whether jcpenney could sell real estate and lease property back to the stores. the u.s. retail chain has already borrowed $850 million from the credit line so they are tapping the credit line to buy inventory as it revamps the business strategy. some of the business partners say, you guys don't have the cash, we're not going to give you the merchandise. they had to borrow to make sure things look confidence. you, is a fresh influx all they need? i know like you and me, we have gotten glossy flairs in the mail like, i don't know, looking at the clothes they offer, and we'll see if they are coming back. ron johnsona delayed
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reaction to the changes made, but closing bell rings in 50 minutes. sky diving? a circus? bumper cars? a guy january tick glass pod that extends over the ocean? yes, that's what you're looking at. royal caribbean, today, unvailing the newest ship class called the quantum of the sea. no thank you. okay. you know, let me bring in adam goldstein on the next stock. ceo and president because today is the day they unvail this. what will it cost, and will it bring in the travelers? hey, facebook friends, would you be more likely to take a cruise because cruises have a bad rep, but more likely to take a cruise if it offered adventures like these? like the glass pod? let me know what you any at facebook.com/lizclaman, and we'll show you the answers later. glass pod, unbelievable. ♪
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liz: gold, such a huge story yesterday. it is moving higher after melting down more than triple
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digits yesterday. you know, sandra, i saw what you were covering. this is all pre-marathon, but earlier in the day, gold fell 12120 -- 120 # bucks. what's that show to traders 1234 >> how weak the bounce back is because at one point, gold was back up about 20-25 bucks, now up $7 on the session showing that, you know, the bulls that stepped in on this possible buying opportunity, they were a little bit weak here. they are not hanging on for long, so looks like the gold rally -- this temporary gold rally may be very short lived talking to traders down here for weeks about this, and nobody really is coming out bullish on gold saying this is an opportunity to buy. by the way, if you look at gold over the past five trading sessions, looking at charts, it falls over $200 in five trading
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sessions. that's going to make a lot of investors very nervous about entering into the market. you got gold now at 1368 an ounce, and, by the way, look at a one-year chart, that shows the drama that's ensued with the precious metal. we were at about 1800 dollars last october, liz. we are a far cry from there. by the way, i confirmed with the cme group today that during that $140 sell off yesterday, a gold trading volume record was reached, so just a ton of investor attention in the metals, still. back to you. >> liz: anybody talking, and we wouldn't know, but whether a hedge fund that blew up with massive exposure to gold? >> they dispelled them, saying there's no excuse. this is a dollar trade, a china trade. this is a central bank trade,
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all together just people fleeing from the metal into the greenback and into the stock market, liz. back to you. liz: i'm still holding mine. forget it. i'm not letting go of those things. thank you so much, sandra smith. we want to get to cheryl casone, down at the new york stock exchange. it's not a threat. listen, on the best of days, cheryl, they have unbelievable security, but what are you seeing today in the wake of the bomb tionz? >> we are certainly see -- you're correct in that the new york stock exchange is a fortress as you know since september of 2001, but what you see today in particular, lower manhattan, is a bigger police presence. mayor bloomberg yesterday not long after the marathon attacks, of course, broadcasting, you saw that with you on fox business, mayor bloombergmented a thousand extra police officers out in the streets of manhattan meaning vehicles, bomb sniffing dogs at the train stationings, penn
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station, new york city subway, increased not just physical police surveillance, but video surveillance, prides itself on watching you at every corner and move. again, since 2001 has had 16 foiled terror plots against it, so new yorkers know very well that in times like these, they need to be prepared. now, the mayor and ray kelly give us an update. 77, liz, listen to this, 77 suspicious packages reported in new york city, just in the last 24 hours, the average may be 30 over several weeks. as you can see, it's not just the new york police commissioner and, of course, the new york pd that is on all of this, but it is local fbi officials as well, so here, it's a regular day in front of the new york stock exchange, traders shaken, of course, by what happened last night, but they had a moment of silence this morning as they opened up the exchange, liz, and, again, life goes on, but
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new york is still under a heightened state of alert for a few days. liz: makes sense. listen, it was really since 9/11 have to be like this. so sad. thank you very much. >> yeah. liz: cheryl casone at the new york stock exchange. the expression is, pay back is a -- i'm not going to say it on the air, benny, but it's a "b," and carnival cruise line says they will repay the u.s. treasury department undisclosed amount in the cost of dealing with the two separate incidents where the ships malfunctioned leaving passengers stranded for days with problems like overflowing toilets and no food. meanwhile, royal caribbean unvailed a new class of ships. totally different company, royal caribbean, look at this, okay. look on your screen, stop what you're doing. it's a class of ships called the quantum, which makes sense because of the movie. oh, i got to see that,
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unbelievable. offering firsts like a sky kiefing experience. adam goldstein, royal caribbean ceo and president on this day. today is the day, that's why we wanted you here. first of all, let's talk about the new attractions. >> thank you, it's not just sky diving, but it's a big feature, the north star brings people 300 feet above the service of the water and there's great views. the venues are terrific too. liz: the arm thing, the glass pod, what is that? the north star. >> how did you come up with the ideas? >> we challenge ourselves. it's in our dna to come up with ideas never been on the water, and we challenge and push everybody to make innovations
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real. liz: when is the first ship setting sail? >> in november of 2014 next year. the ship has to be constructed in germany. liz: the question is what do you think it will do for the bookings because bookings have been a little tough. listen, the cruise industry had3 bad press, couple incidents, really, really bad incidents, but what do you expect? can you gain what bookings you get? >> two things, safety is an industry effort. we have to integrate safety, what we must do, all of us. our experience with new ships is that they command attractive pricing for the cruise line and give incredible value to the gusts, and they typically create buzz andrew the category in a positive way thinking that happens with the things announced this morning and carry op. liz: okay.
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show the video of the sky diving. i need to know how it works. you talk about safety. it looks unbelievable, but i asked myself what is going on here because it's -- i'm not sure it's safe, but there's jets of air that push people up? >> it's an air flow system. you can land, and the air circulates. -- liz: have you tried is >> >> yes, i had absolutely no thought of ever doing sky diving, and never have done, but i came out thinking if this is what it's like, i could do it. one of the interesting things is precision sky diving teams prak there at night. it's so realistic that they feel it duplicates the experience of jumping out of a plane. liz: you know, when we go to the cruise industry overall, it is a smart man who learns not just from his mistakes, but those of others. way have you learned from carnival where the ship lost
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power, couldn't tow the thing, too far out, ran out of food. did you make changes in the wake of their problems? >> well, again, as i said, the industry faces the challenge of communicating to consumers that it's a safe and reliable vacation choice, which is has been over the years. what happened in the last year and a half or so is that the industry association is global. the interaction within the association is at an unprecedented level. there's ten specific safety initiatives adopted by the whole industry attested to by the ceos such as myself and working throughout the international merit regulatory machinery. liz: 24 is brand new today, how much does it cost? is it in addition to the state room, and are you raising prices to incorporate the attractions in >> the value is critical. to go into north star and do sky driving is a part of the ticket
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purchase. you do not pay extra. liz: raising ticket prices? with we hope the value proposition is so great they pay more for the ticket knowing it includes these features. >> what happened at the boston marathon. you know runners in it, you're a runner, but on top of it, are cruise ships vulnerable? >> what we see in society is everything and everyone is vulnerable. our responsibility, again, is the magnificent of a cruise company, take the necessary recautions to make the siermt as safe as we can. what we experienced yesterday watching op tv, nevermind having been there, which i was not there, but it's just an a nor mouseceps of violation of the way of lie we. to lead, what runners were there to do, family and friends seeing them finish at the finish line. several friends i run with were there. it's just a sense of the violation of how we want to live and hopefully obligations to move forward making changes to
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make it as safe as possible. liz: we hope you continue to grow. >> thank you very much. liz: the stock up 20% year over year. it's up another percent and change today. royal caribbean international. thank you. closing bell ringing in 35 minutes. we've had pretty excellent earnings this morning like coca-cola, goldman sachs, you own the names, but now it's yahoo's earnings after the bell. we'll tell you what to watch for coming up. ♪ ♪
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governor of getting it done. you know how tdance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is aweso. [ male annncer yes, it is, business pro. yes, it is. go national. go like a pro. liz: a restraining order? have you heard of one business issuing a restraining order against another business?
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macy's, according to reuters, is seeking a temporary restraining order against jcpenney. we'll put up the stock right now, still holding on to most of its gains of about 6%. macy's is up 1%, but macy's seeks a temporary restraining order against jcpenney and martha stewart living on the media to block the sale of goods pending appeal of earlier ruling. now, the earlier ruling said, okay, jcpenney, guess what? you can sell martha stewart products that are nonbranded, that don't have her name on but that she actually designed. that was a win last week for jcpenney. well, now macy's says, hold on, we're going to issue a restraining order, we're going to seek one at least, and this is just not fair. we have the deal for branded martha stewart living products. remember the pitcher? there was the acrylic pitcher, very similar the one that jcpenney's is selling, but it's a lot cheaper.
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so macy's puts a restrainer order against selling pieces that jcpenney has it in a holding area. charlie's bored by this story. >> reporter: i don't think it's a story. liz: well, i just think it's interesting that you've got macy's, a huge retailer, issuing -- seeking a restraining order? >> reporter: that does happen. liz: you don't care. [laughter] let's get to what you care about. >> reporter: we should point out that the stock is not reflecting it's a story right now. liz: that's true. what's mso doing? >> reporter: mso is -- liz: i know. it's up nearly 2%. >> reporter: it's a dog with different fleas, as gordon gekko might say. it's a penny stock. liz: okay. >> reporter: well, ge isn't a penny stock. liz: not at all. >> reporter: not at all. now, interesting thing in light of the tragedy that happened yesterday, i was talking to some people, jeff immelt gave some
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interesting remarks at a wharton conference, a wharton business school conference if new york about a month ago. immelt is the ceo of ge, one of the biggest companies in the world, talks to a lot of other, you know, similarly-sized, you know, ceos from similarly-sized companies. the question he was asked was cash. why are all these big companies like ge, you name it, holding cash? it's also known as liquidity. why is there so much liquidity? and he said in the post-9/11 world one of the things corporations have to take into account, one of the major things is terrorism. and i never heard it butt that bluntly -- put that bluntly, the notion that something bad could happen, a 9/11 sort of magnitude or something like what happened yesterday, that something like that is now part of the corporate sort of equation for every ceo. and because of that you'll operate in this sort of uncertain world, you really do have to hold cash. so, you know, yesterday we were talking a lot about, you know,
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the human tragedy of what went down in boston yesterday, and it was a horrific thing. i should point out that i spoke last night with a senior federal law enforcement official point-blank telling me that they still have no really idea how this happened. i mean, there was one gentleman -- liz: your sources were right on the money shortly after 3 p.m. when they old you there were ball bearings pack inside the bottom. sure enough -- >> reporter: yes. and by the way, those are all sort of, is and it gets back to what immelt said, those are hallmarks of terrorism. terrorists use ball bearings to inflict as much human loss as they can. that's a hallmark. and when businesses hear that, they -- this does have, i know it sounds like a leap, but it's not. this does have a business impact, because the fact that wily -- we live in this uncertain world -- liz: adam goldstein said they're not going to allow this, but what they say versus what they
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do -- >> reporter: listen, there's a reason why all these businesses have cash. they are preparing -- listen, yesterday budget as, thank god, wasn't as bad as 9/11. i was at "the wall street journal" at the time, we were located across from the trade center, massive amounts of human life, and it had a huge, huge economic impact because you took the markets out for two weeks, you blew up businesses that would normally be operating, had to find other places to work. that didn't happen yesterday. but the fact that you have the threat, the notion that something like that could happen and given like what happened yesterday causes businesses to react. and can part of this cash equation, now, there's other reasons. we had a financial crisis, so people hold cash on hand. but modern ceos now in their equation of how they operate their company very much take into account terrorism and the cash that all these, that are on the balance sheets is partially a reflection of that. liz: charlie gasparino, thank you very much. we are about 25 minutes from the closing bell. now we're up 133 points, so a
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decent rally here. we got quite a slew of financial earnings this morning. check out the stocks on the move today, but what is the best way for you to cash in? we'll tell you how you might be able to make big bucks from smaller banks. that's after the break. plus, goldman sachs, one of the big financials, made the call to sell gold last week. they look like geniuses, obviously, this week after the big fall. so should you be investing in their next big call? what is that? stay tuned, i'm about to tell you. ♪ friday night, buddy.
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order that macy's is apparently seeking against jcpenney. they want a restraining order against pennies saying, okay, you cannot sell that pitcher on the right because it's $12 versus ours designed by martha stewart as well for $29. i'm just looking at jcpenney right now because it's been up about 6%, it's now climbing even further. so it's not hurting jcpenneys stock. macy's is up about a percent, and martha stewart on the media is up about 2%, so everybody's still up on this because there's no decision on it. as you see, there are about a million pieces of merchandise stuck in a warehouses that jcpenney owns. they were told they could sell this stuff. macy's is saying they want to seek a restraining order so they can't sell it. in fact, nicole, are you looking at that? what's happening with the stock? >> i am. i wanted to show you a couple of things here.
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i'm going to show you jcpenney up over 6% on this news today. obviously, this daytimes way back, and they've had these battles going on. and originally macy's was so mad, right? they thought they had this deal with martha stewart and did, and then jcpenney comes in and say, no, we have a deal with martha stewart. and this has been going on and on, and now you have this restraining order. the other thing i wanted to show you was i saw kb homes was up 1%, take a look at toll brothers, up about 2%. it's worth noting that in addition to many stories that we have going on here, the home builders are jumping on those good housing starts. liz: okay, thank you very much. once again, we're keeping our eye on all of this, but also the markets. we've got the markets up 147 points for the dow jones industrials. the nasdaq up 45, but it's the russell 2000 that has the biggest percentage gain, folkings. the small and the mid caps are up 1.5%. if i have a dime for everybody over the last seven years who
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said that the russell was going to fall and finally the bull market in the russell was over -- you know the answer to that. again, russell continues to move higher. let's get to goldman sachs. this morning they joined the ranks of big financials reporting strong earnings for the quarter, but matt mccormack says don't be fooled by the big, glittery guys. it's regional banks that are the place to be. matt mccormack is the banking analyst and portfolio manager. he joins me now in a fox business exclusive from cincinnati. okay, why the little guy? people have been concerned about some of the regional banks lately. you're not at all. make the case. for them. >> liz, a lot of people are concerned about regional banks and the compression of net interest margins. i'm looking from the money center banks as more of a risk center because they've had strong performance. on average they're up 11% year to date through yesterday, liz, opposed to the regional banks
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are only up about six. so they don't have as much european exposure, they've had the ability to grow their earnings i think a little better, and i think you can be a little bit more regional, and in our camp we specialize in dividends, liz, we think there's going to be more growth out of the regionals. take profits from the more risky money-centered banks, look at regionals that haven't had as big a run, look at areas where you can get better dividend growth with, i think, frankly, better management. liz: we've got us bank,bb and t. for example, their dividend is 3%, their pe is 9, and they're not at their highs of the year. they're down about 2% over the past year. then you've got colin frost. they're up about, i don't know, 8% over the past year, pe 15. a little bit richer, but that dividend is also, i believe, about 3.1%. that's attractive, but you have to just settle my soul on this one. 11% of colin frost's float is
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shorted. sometimes those are circumstances beyond the regular investor's control, correct? >> sure, sure. we like colin frost because it's based in san antone, it never took t.a.r.p., never took a dividend cut. if you lack at fracking, most people would feel their economy is much stronger than the rest of america, people are willing to pay a premium. when you look at cullen frost, it's much like northern and goldman sachs that people want to go to. and i like conservative names with strong dividend growth with strong regional economic situations that never took t.a.r.p.. conversely, you look at the money-centered banks that all of them took t.a.r.p., all have risk-oriented assets with europe, i don't believe anybody can ascertain or truly understand. i think there's more risk with these names. i like companies like u.s. bank, very strong management, very conservative in their lending power. and i think they know their customers better. liz: and that one, sorry to
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interrupt, has a 2.3% dividend, it's up about 5% over the past year, pe 9. >> right. liz: i'm just wondering why i wouldn't go with, say, a jpmorgan or a goldman sachs when, you know, some of these smaller names have exposure to, perhaps, downdrafts, and they might get blown around a little more dramatically if there are issues. >> right. my theory is this, that the european economy and the european infrastructure is not fixed, and it's going to get worse. liz: okay. >> jamie dimon famously said i don't have any european exposure until he found out he did. and if europe continues to have bad issues, the money-centered banks are going to be a source of profits. they've already had a good run. you look at what happened with goldman today, they had strong earnings, but that's from taking loan loss reserves and selling off noncore assets. their weaknesses is on fixed income trading, which is down 7%. a lot of the regional banks don't have the exposure to europe, don't have the capital
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markets exposure that the money-centered banks do. and i think if you are a bull in this market, the bull trade is op money-centered banks because you believe in momentum. if you're a little bit more conservative as we are, regionals are the play. liz: all right. and, listen, thank you. selling it for the little guy, the so-called little guy. thank you so much, matt, good to see you. >> take care, liz. liz: matt mccormick. take a look markets, we are at session highs for the s&p and dow jones industrials right now. in fact, we were just up about 152 points for the dow jones industrial, and look at natural gas. three penny, but that's a lot when it's only $4.17 per unit. as the closing bell rings in about 14 minutes, goldman sachs -- speaking of the big guys -- saying forget gold, it's all about that on your screen, natural gas, as the safe haven? okay. the case to be made for that is coming up. and american airlines responding to the latest-breaking news on having to ground all its aircraft.
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liz: gold over the past several monts has definitely lost its luster. it's up a little bit today, but the precious metal yesterday had its worst one-day plunge in dollars in 30 years. goldman zacks last week correctly predicted the demise of gold, and what matters is they did it in advance of this dramatic fall. although gold had been turning lower over the past year. now they are saying forget gold, it's natural gas, of all thing, that's the new safe haven? so we're bringing in many adam connor, ck cooper corporate finance director. natural gas, adam? listen, natural gas used to be
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$14 per unit. today it's $4. granted, that's a big move over the past year, but why are they saying that? do you believe that as well? >> well, for the reason that russia's concerned, that we are turning into the next hydrocarbon epicenter in the world. we literally have unlocked all these reserves, especially natural gas, within our own community. and i say community, i say the united states as a nation. so we have the capacity to really take energy into our own hands for one of the first times. liz: but isn't it supply versus demand? we've got huge supply of natural gas. >> we absolutely do. liz: so why, why -- i mean, i see that it's moved. we just showed the one-year chart, and it looks great, but why would we expect this would be a safe haven of all things? >> now, let's take a look at that. is it easy to export? no. but it's one thing that we can actually control, so when it comes to actually having concerns about currency or having concerns about valuation of other commodities, this is something that we can tangibly control and can unlock and also they like the idea that we're creating a tremendous amount of
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jobs, and there's a lot of momentum when it comes to the epa and the cleaner burning aspects. liz: do you like any names in the natural gas space? >> last year almost to the day -- liz: yeah, it's up about 7%. >> we like it because it's a low cost producer and actually puts off a pretty decent dividend as well. liz: what is that dividend? >> it's around 3.something percent, depends on what it's trading today. liz: hold on, i'm looking. encana, when you see it, it's up since when you mentioned it which was a year -- >> it's been a while. liz: so let's talk about new names you like, and synergy resources is one of them. why do you believe there's more to go? >> what we like is imagine this. so you have your house, okay? and you have your two neighbors. your two neighbors build big houses next to you. what happens to your house, the value? it goes up. liz: yeah. >> so these guys actually started conventional. strong management team, knew the air, and they started building houses that made their assets much better, and now they're
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taking operatorship in their own hands and drilling unconventional wells. liz: and you've got a price target of about 8.50 for this one. gulfport energy, this is up about 72% over the past year, a pe of 23. 11% of the short is floated on this one. >> there was a big move outside of utica. everybody like chesapeake was concerned because they weren't able to crack the code in utica. unfortunately, that's not the case for gulfport -- liz: can you put that in english? >> sure, the utica shale's an unconventional shale much like what you heard in north dakota. and so what it is is it's the capacity to unlock the hydrocarbons in an unconventional way. we talk about drilling horizontal and things to that effect. they're able from a technological standpoint to unlock that code and extract those hydrocarbons. liz: is supply so huge right now. i just want people to know that, and those are adam's picks. we'll put those up on the
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facebook page if you want to see those. thank you. we'll see how your picks do. ck cooper corporate finance group director. okay, closing bell fife minutes away. intel is getting ready to report first quarter earnings. the stock is up more than 2% right now. coming up live we've got intel's cfo stacy smith with his reaction. we're going to be asking him about their new energy-shipping ships. also might there be an announcement on who will take over for the retiring ceo? it's all coming up immediately after the numbers come out. don't miss it, you've got to stay with us. ♪
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>> hello, everybody. good to be back. let's go to nicole petallides at the new york stock exchange right way way. as you can see the market is trading to the upside as we close. it is still not enough to cut into yesterday's losses, nicole, but it is not doing bad? >> not bad ad all. nice start for the bulls. yesterday we saw the dow drop late in the day understandably down 265 points at the closing bell. going into our closing bell we're moving in on session highs. the dow is now up 160 points. liz: intel is a dow component. a lot of people will be watching. they're on deck to report earnings just minutes from now. people are looking at this one because we got some pretty weak pc sales numbers last week. we're wondering how they might do. going into this we're up 2.5% on intel. >> we've seen a lot of names moving the dow around. for example, today, you saw johnson & johnson helping coca-cola, as you noted pc
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sales and shipments have been weaker. that is something people have been looking for from intel. david: gold was up much more when the markets closed 2:30 p.m. eastern time. it is flat and certainly nowhere near cutting into yesterday's 10% loss. >> right. yesterday saw gold down $100. huge moves for gold, it was coming back early in the morning. i saw it come back 30, 35 bucks. it has lost some of its momentum but still in the green. liz: we want to mention moving right now on the tape, american airlines has to cancel 400 flights. they have a computer glitch. of course this is a name we're watching closely as it begins to merge with us airways. here's the closing bell, david. [closing bell rings] david: let's look at all the various indexes. as we can see we're trading to the upside as we close here. russell 2000, wanted to do that at the end.
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that had furtherest to go making up for yesterday's losses. dow jones industrial average, better than half of yesterday's losses. again its not anywhere near the 260 point loss. it is good going into the down, going into the end of the trading day. s&p up about 1 1/2%. nasdaq fully up 1 1/2%. russell 2000 looks pretty good. remember yesterday the russell 2000 lost about 3.78%. so, again that had the furtherest to go to cut into yesterday's losses. and it just doesn't make it though. 1.79% gain is not bad, liz. liz: let's not ignore earnings. 60% of the s&p 500 companies that have reported beat estimates. big earni

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